Edmonton Real Estate Board | April 2019 Market Stats

Hi everyone, Richards Robbins here. Well, the numbers are in for
the Edmonton Real Estate Board and guess what? I’ve got some good news for ya. I’ve got some really good news for ya. So I hope you’re excited. So let’s have a look at
what’s going on here. Let’s have a look at January through April in terms of your sales
and your active listings. You can see January we did about 800. February, look we’re up by 23%. March, 1,200, we went up
by 21.7% and look at this, April, 1,684, we’re up by 40%. What a beautiful number. Now I understand that sales
should rise in the spring but that’s pretty cool stuff right there. Active listings, so this
is the amount of inventory on the market at the end of the month. You can see we have
7,100, went up by 4.7%. Then we went to 8,287, up by 12%. Up to 9,000, up by almost 9%. Now look at this. If your sales are up by 40%, and if your active listings are up by 9%, does that mean your market is
getting stronger or weaker? Obviously means your
market is getting stronger because if you take the amount
of sales and divide that in to the active listings, that gives you your months of inventory. Your months of inventory determines the strength of your market. That determines price goes
up, prices going down. Four to six balance. Anything above six, right
here, this is a buyer’s market. Then we went down to 7.5. And then what happened here,
was we went down to 6.9. Why? Because sales up by 22,
listings only up by 12. Do you see? Then we went down to 5.4. Why? Sales up by 40, listings only up by 9. Do you get that? So this here is such a great number because it determines
the strength or weakness of any marketplace. So what’s happening is you can see that we’re moving now back to 5.4. We’re back into a very very
balanced market, which is nice. What’s happening with average
price, 339, 355, 357, 365. Not a lot of movement there. But of course not a lot of movement because we’re sitting here
in more of a balanced market. Days on Market should be going down. If this number is going down here, these numbers should be going down. 84 days on market, 73, 66, and down to 60. Another indicator your
market is strengthening. And these are great conversations that you can have with buyers and sellers. What about April of last
year, April of this year? Well, we did 1,555 sales. We had 5.7 months of inventory. We did 1,684, to 5.4 months of inventory, which obviously means your
market is better this April than it was last April,
which is very cool news. Here’s your prices, 369, 365. April last year, April of this year. Roughly the same. Not a lot of change going on there. Now this here is a cool visual. I’m going to suggest that you might want to create this for your
listing presentations when talking to buyers. Because what this is, this
shows your months of inventory for the whole year on a line graph. So let’s look here at 2017. You can see, 2017 we started
with seven months of inventory. Then our market started to go down, got a little better, right? And you can see what’s going on here. Well then 2018, look what happened. Our months of inventory was up. Well what happened in January of 2018? Stress test. So all of the sudden we’re going along and you can see that it caused
our market to start to rise. We ended the year, 8.8
months of inventory. This was a very difficult
time, right here. And then we started the
year right around the same. Now what’s been happening? Look where we are right now. So we’re coming back into
a very very good place. So you can see, we’re
almost where we were in 2017 and we’re below where we were in 2018. So this is all great news for you. Now, next slide I’m gonna show you is going to be very interesting. You have about 3,300 agents roughly, give or take a little bit, on the Edmonton Real Estate Board. The month of April, you did 1,684 sales. Now do you see a problem in here at all? 1,684 sales, 3,300 agents. That would tell you half the
agents didn’t do any sales. No that’s not true either
because do you think some of these people
did more than one sale? Yes. That will tell you that more than half of the agents did nothing. So here’s what we have to realize. Real estate is a very
interesting business. A lot of people get a license, but they’re not professionals. They’re not committed to
what it is that they do. They’re not out there
working hard every single day to bring value to buyer and sellers. They’re not lead generating every day. They’re not doing their lead
follow-up properly every day. They don’t have professional
listing presentations, professional buyer presentations. You know, some of them are
probably driving a cab. That’s just the way it works. I remember one time in
Vegas, I ordered an Uber. Get in the Uber, driving to the airport, the guy says what do you do? I said, I’m a real estate coach. He goes, well I’m a real estate agent. I went, wow good for you. I’m going to give you about 12 bucks here. You know by the time you
get me to the airport, that’s what it’s gonna cost me so you must be killing real estate ’cause you want my 12 bucks. Pretty crazy if you think about it. So what I’m saying is this. When you look at these numbers, you know what that tells you? You gotta be good at what you do. You wanna succeed in this business, you wanna make a lot of
money in this business, you wanna help a lot of
people in this business then you’ve gotta be really really good. You’ve gotta study your market. You’ve gotta study the industry. You’ve gotta make sure
that what you’re saying is tremendously valued
to buyers and sellers. You’ve gotta have great presentations, great conversion systems. See that’s what the committed truly do. I think a lot of people
are interested in success but very few are committed to success. Big difference everybody. So, to my big announcement. We are launching a podcast very very soon. Now, if you want to know when
the podcast is launching, it’s called the Richard Robbins Show, and it’s about building
extraordinary businesses and beautiful lives all at the same time, then all you have to do is this. All you have to do is go to our website and subscribe to our email. So in other words, if you’re
already getting our email, if you get our blogs,
the email newsletter, that sort of thing, you’re all good. You will be notified when we launch. If not, go to the website, get signed up, and then you will be notified
when that podcast launch. At the end of the day everybody, remember it’s a beautiful life, okay? Make it count.